It's the most wonderful time of the year, so deck the halls, pop on some festive tunes and cuddle up with your loved ones to settle in and watch your favorite holiday movies.

The holly jolly season has gifted us a never-ending list of entertaining movies to watch, treasured films that have stood the test of time, nostalgic comedies that always provide a much-needed laugh while winding down from the stress of holiday shopping and even newer entries sure to become timeless classics.

But which film stands out among all the holiday favorites?

According to a list from Entertainment Weekly, It's A Wonderful Life was named the "best Christmas movie of all time." This 1946 film directed by Frank Capra and starring Jimmy Stewart was described as a masterpiece that emphasizes the true meaning of the holidays.

Here's what EW had to say about this beloved Christmas movie:

"If you think Frank Capra's holiday staple is feel-good hooey, watch it again. It's funny, heartwarming, profound, and an annual reminder that the holidays are about more than presents, thanks to Jimmy Stewart's turn as George Bailey. If you don't have a sugarplum in your throat by the end credits, you need to come in from the cold."

A Christmas Story (1983), A Charlie Brown Christmas (1965), Elf (2003) and How the Grinch Stole Christmas (1966) round out the top five, but the list also features other popular films like Love Actually, Home Alone, Die Hard and more.

Check out Entertainment Weekly's full list to see if your favorite holiday film made the cut.

The Midnight